Assignment Of Lease Form Template

SAMPLE ASSIGNMENT OF LEASE

    This Assignment of Lease is entered into by and between [list name of person assigning lease - the "assignor"], an individual with an address of [list address of assignor] ("Assignor"), and [list name of person lease is being assigned to - the "assignee"], an individual with an address of [list address of assignee] ("Assignee").

    Background

    By a certain lease dated [list date lease was signed] (the "Lease"), [list name of landlord] ("Landlord") leased to Assignor as tenant the premises described as follows: [list exact legal description of property] (the "Premises"); and

    The Lease or a memorandum thereof was recorded [list where and when lease was recorded, if applicable]; and

    Assignor desires to assign to Assignee, and Assignee desires to assume, all of Assignor's rights and obligations as tenant under the Lease, with the consent of Landlord.

    Therefore, in consideration of the mutual covenants contained herein and other valuable consideration received, and with the intent to be legally bound, the parties agree as follows:

    1. Assignor hereby assigns the Lease and all of its right, title and interest thereunder to Assignee. Assignee hereby accepts such assignment. Assignee shall have all of the rights of Assignor under the Lease including, without limitation, any option to renew or extend the Lease, option to purchase the Premises and right to the security deposit now held by Landlord, should any of the foregoing exist.

    2. Assignee hereby assumes and agrees to be bound by all of Assignor's obligations under the Lease. Assignee shall perform all the terms, covenants and conditions of the Lease, including the payment of rent and any other required amounts to Landlord, after the date hereof.

    3. Assignee shall indemnify and hold Assignor harmless from any and all claims, damages, expenses and liabilities of whatever nature, including attorney's fees, arising under the Lease or relating to the Premises after the date hereof.

    4. Assignee shall not assign the Lease any further or sublet all or any portion of the Premises without the prior written consent of Landlord.

    5. Except as specifically modified herein, the Lease will continue in full force and effect.

    6. This Assignment shall be binding upon and shall inure to the benefit of the parties and their respective heirs, legal representatives, successors and assigns.

    CONSENT OF LANDLORD

    Landlord hereby consents to the above Assignment and releases Assignor from all obligations and liabilities arising under the Lease after the date hereof.

IN WITNESS WHEREOF, this Assignment of Lease is executed under

seal on the__________day of_________________, 19_____.

Executed in the presence of: ASSIGNOR

______________________________ ____________________________(Seal) (Signature of witness) [list name of assignor]

______________________________ (Signature of witness) ASSIGNEE

____________________________(Seal) [list name of assignee]

LANDLORD

____________________________(Seal) [list name of landlord]

STATE OF _____________________

COUNTY OF ____________________

In _______________, on the _____________ day of ____________, 19___, before me, a Notary Public in and for the above state and county, personally appeared [list name of assignor], known to me or proved to be the person named in and who executed the foregoing instrument, and being first duly sworn, such person acknowledged that he or she executed said instrument for the purposes therein contained as his or her free and voluntary act and deed. _______________________________ NOTARY PUBLIC

My Commission Expires: ________

(SEAL)

STATE OF _____________________

COUNTY OF ____________________

In _______________, on the _____________ day of ____________, 19___, before me, a Notary Public in and for the above state and county, personally appeared [list name of assignee], known to me or proved to be the person named in and who executed the foregoing instrument, and being first duly sworn, such person acknowledged that he or she executed said instrument for the purposes therein contained as his or her free and voluntary act and deed. _______________________________ NOTARY PUBLIC

My Commission Expires: ________

(SEAL)

STATE OF _____________________

COUNTY OF ____________________

In _______________, on the _____________ day of ____________, 19___, before me, a Notary Public in and for the above state and county, personally appeared [list name of landlord], known to me or proved to be the person named in and who executed the foregoing instrument, and being first duly sworn, such person acknowledged that he or she executed said instrument for the purposes therein contained as his or her free and voluntary act and deed. _______________________________ NOTARY PUBLIC

My Commission Expires: ________

(SEAL)




LEASE ASSIGNMENT AGREEMENT

AGREEMENT entered into this ______________________, ________ by and between ____________________________, "Assignor" and __________________________, "Assignee" and ______________________________, "Landlord".

The Assignor is the tenant of leased premises located at _____________________________________________________.

The Assignor desires to assign said lease rights to _________________________________ and the Assignee desires to acquire said lease.

For good and valuable consideration, which is hereby acknowledged, the parties agree as follows:

1. The Assignor shall assign it rights in the above mentioned lease to the Assignee. The lease representing said leasehold interest is attached and made a part hereof as Exhibit "A."

2. The purchase price for the sale of the lease rights as described in paragraph 1 above shall be _______________________________ ($_______). The Assignee shall tender to the Landlord a check in the amount of ____________________________ ($_______).

3. The Assignor shall vacate the leased premises by ______________________, ________. The Assignor may vacate the leased premises prior to ____________________, ________, provided that the Assignor notifies the Landlord and the Assignee of such occurrence at least _______ weeks prior to the date of vacating. The leased premises shall be left in broom-clean condition, and the Assignor shall, prior to the date of vacating, remove from the leased premises all items personally belonging to the Assignor.

4. The Assignee hereby agrees to reimburse the Assignor for all rents paid by the Assignor to the Landlord that represent rental payments for the period of time after the date of vacating by the Assignor.

5. The waiver by any party to this agreement of a breach of any provision of this agreement by any party shall not operate or be construed as a waiver of any subsequent breach by any party. No waiver shall be valid unless in writing and signed by the parties to this agreement.

6. This agreement shall be interpreted in accordance with the laws of the state of _________________.

7. In the event that any part of this agreement is held to be void, invalid or unenforceable in any respect, then the same shall not affect the remaining parts, which shall continue in full force and effect.

8. This agreement shall bind the parties, their legal representatives, successors and assigns. The Assignee assumes and undertakes all of the terms and conditions of the lease as his own obligation.

9. This agreement contains the entire understanding of the parties. It may not be changed orally. This agreement may be amended or modified only with such writing being executed by the parties.

IN WITNESS WHEREOF, the parties have caused this agreement to be executed on the date first above written.

_____________________________

Landlord

_____________________________

Assignor

_____________________________

Assignee

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